UPMC Makes Strategic Investment in Health Fidelity to Develop

HEALTH FIDELITY
Press Release
UPMC Makes Strategic Investment in Health Fidelity to Develop
Technologies that Advance Value-Based Healthcare
One of the Country’s Largest and Most Innovative Health Systems
Deploys Technology Solution, Comes on Board as Investor
Palo Alto, California – March 23, 2015 – Health Fidelity, a company that develops innovative
technologies for the value-based healthcare era, today announced that UPMC, one of the
nation’s leading healthcare systems, has made a significant investment in the company.
UPMC identified the value of using a comprehensive risk adjustment solution for Medicare
Advantage, Medicare ACO and health insurance exchange programs and then partnered in
2014 with Health Fidelity to complete development of this technology. The Health Fidelity risk
adjustment solution, deployed at UPMC Health Plan last year, significantly enhances
operational efficiency and compliance management. With UPMC’s strategic investment in the
company, Health Fidelity is accelerating the introduction of risk adjustment and other valuebased care solutions to the market.
As the healthcare ecosystem shifts from a fee-for-service to a value-based business model,
healthcare organizations are looking for ways to optimize risk adjustment operations and
improve compliance. Health Fidelity helps integrated delivery systems, health plans and health
systems perfect the risk adjustment cycle by applying technologies that improve and
complement existing systems and processes. Today, most of these organizations are making
population management decisions using only 20% to 30% of available clinical information
because of the challenges involved in interpreting and applying unstructured data. Health
Fidelity provides solutions that leverage previously untapped data, which empowers
organizations to streamline revenue operations, achieve higher levels of compliance and realize
greater efficiencies.
“By collaborating with the clinical and technology experts at UPMC, Health Fidelity is able to
offer the most comprehensive, scalable solution on the market for perfecting the risk adjustment
cycle,” said Mary Beth Jenkins, Senior Vice President and Chief Operating Officer, UPMC
Health Plan and UPMC WorkPartners. “It’s an innovative technology that has delivered
measurable results to UPMC Health Plan, seamlessly integrating with existing risk adjustment
processes to deliver results while improving compliance and process efficiencies.”
The simplicity of Health Fidelity’s solution is especially attractive to organizations that are
looking to reduce the complexity of risk adjustment operations. The solution is designed to
efficiently enhance retrospective and prospective analyses with an intuitive workflow that
integrates disparate tasks into more streamlined, collaborative processes. Using cutting-edge
natural language processing (NLP) technology, the solution maximizes client value by
continuously improving the risk adjustment cycle.
HEALTH FIDELITY
Press Release
UPMC, a national leader in the innovative use of technology, evaluated options and selected
Health Fidelity as a partner due to its expertise in NLP and analytics. UPMC is now
collaborating with Health Fidelity to innovate on additional use cases that will improve
healthcare delivery and population management.
Health Fidelity plans to use the cash infusion to expand research and development, strengthen
its team and increase the company’s market share. Health Fidelity will assess potential
partnerships with additional investors, integrated delivery systems, health plans and health
systems at the upcoming RISE Conference. To learn more about Health Fidelity and its
groundbreaking value-based care solutions, please visit www.healthfidelity.com.
About Health Fidelity
San Mateo, California-based Health Fidelity delivers innovative solutions for the value-based
healthcare era. Using groundbreaking NLP and analytics technology, Health Fidelity’s risk
adjustment solution is changing the way risk is identified, quantified and managed for
organizations that participate in Medicare Advantage, Health Insurance Exchange and Medicare
ACO programs. To learn more, please visit www.healthfidelity.com.
About UPMC A world-­‐renowned health care provider and insurer, Pittsburgh-­‐based UPMC is inventing new models of accountable, cost-­‐effective, patient-­‐centered care. It provides more than $887 million a year in benefits to its communities, including more care to the region’s most vulnerable citizens than any other health care institution. The largest nongovernmental employer in Pennsylvania, UPMC integrates more than 60,000 employees, more than 20 hospitals, more than 500 doctors’ offices and outpatient sites, a more than 2.5-­‐million-­‐member health insurance division, and international and commercial operations. Affiliated with the University of Pittsburgh Schools of the Health Sciences, UPMC ranks No. 12 in the prestigious U.S. News & World Report annual Honor Roll of America’s Best Hospitals — and No. 1 in Pennsylvania. For more information, go to UPMC.com.